Medpace (NASDAQ:MEDP) Stock Rating Upgraded by StockNews.com

Medpace (NASDAQ:MEDP) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a research report issued on Tuesday.

MEDP has been the subject of several other research reports. Robert W. Baird raised their target price on Medpace from $312.00 to $408.00 and gave the company an “outperform” rating in a research note on Wednesday, February 14th. Deutsche Bank Aktiengesellschaft initiated coverage on Medpace in a research note on Monday, March 18th. They issued a “hold” rating and a $395.00 price objective for the company. UBS Group raised Medpace from a “neutral” rating to a “buy” rating and raised their price target for the stock from $282.00 to $452.00 in a research note on Thursday, February 15th. Finally, Jefferies Financial Group raised Medpace from a “hold” rating to a “buy” rating and raised their target price for the company from $340.00 to $450.00 in a report on Tuesday. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, Medpace presently has a consensus rating of “Moderate Buy” and an average price target of $443.00.

Medpace Trading Down 2.4 %

Shares of Medpace stock opened at $397.56 on Tuesday. The business’s fifty day moving average price is $397.84 and its 200 day moving average price is $323.66. The stock has a market capitalization of $12.32 billion, a P/E ratio of 40.53, a PEG ratio of 1.99 and a beta of 1.38. Medpace has a twelve month low of $189.30 and a twelve month high of $421.00.

Medpace (NASDAQ:MEDP) last announced its earnings results on Monday, April 22nd. The company reported $3.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.45 by $0.75. The company had revenue of $511.00 million for the quarter, compared to analyst estimates of $512.39 million. Medpace had a return on equity of 65.98% and a net margin of 15.92%. Medpace’s quarterly revenue was up 17.7% on a year-over-year basis. During the same period in the prior year, the company posted $2.27 EPS. As a group, sell-side analysts predict that Medpace will post 10.53 EPS for the current year.

Insiders Place Their Bets

In related news, major shareholder Medpace Investors, Llc sold 50,000 shares of the stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $391.75, for a total transaction of $19,587,500.00. Following the sale, the insider now owns 5,539,947 shares of the company’s stock, valued at $2,170,274,237.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Medpace news, VP Susan E. Burwig sold 102 shares of the stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $403.00, for a total transaction of $41,106.00. Following the completion of the sale, the vice president now directly owns 15,181 shares in the company, valued at approximately $6,117,943. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Medpace Investors, Llc sold 50,000 shares of the firm’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $391.75, for a total value of $19,587,500.00. Following the completion of the sale, the insider now owns 5,539,947 shares of the company’s stock, valued at $2,170,274,237.25. The disclosure for this sale can be found here. Insiders have sold a total of 189,340 shares of company stock valued at $76,651,647 over the last 90 days. 20.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Medpace

A number of hedge funds and other institutional investors have recently modified their holdings of MEDP. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Medpace by 2.2% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,897 shares of the company’s stock worth $2,114,000 after purchasing an additional 148 shares during the period. Portside Wealth Group LLC boosted its holdings in shares of Medpace by 14.8% during the fourth quarter. Portside Wealth Group LLC now owns 1,419 shares of the company’s stock worth $435,000 after purchasing an additional 183 shares during the period. China Universal Asset Management Co. Ltd. lifted its holdings in Medpace by 355.2% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 3,555 shares of the company’s stock worth $1,090,000 after buying an additional 2,774 shares during the period. Louisiana State Employees Retirement System bought a new position in shares of Medpace during the fourth quarter valued at approximately $1,992,000. Finally, Chase Investment Counsel Corp increased its stake in shares of Medpace by 3.2% during the third quarter. Chase Investment Counsel Corp now owns 9,849 shares of the company’s stock valued at $2,384,000 after purchasing an additional 301 shares in the last quarter. Hedge funds and other institutional investors own 77.98% of the company’s stock.

Medpace Company Profile

Medpace Holdings, Inc provides clinical research-based drug and medical device development services in North America, Europe, and Asia. The company offers a suite of services supporting the clinical development process from Phase I to Phase IV in various therapeutic areas. It provides clinical development services to the pharmaceutical, biotechnology, and medical device industries; and development plan design, coordinated central laboratory, project management, regulatory affairs, clinical monitoring, data management and analysis, pharmacovigilance new drug application submissions, and post-marketing clinical support services.